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United States and Puerto Rico IT Managed Services Market Segmentation by Enterprise Size (Small & Medium, and Large Enterprises); by Service Type (Managed Network, and Managed Data Center & IT Infrastructure Services); by Deployment (Hosted, and On-Premise); by Industry Vertical (BFSI, Telecommunication & IT, Healthcare, Manufacturing, Energy & Utilities, Consumer Goods & Retail, Education, Media & Entertainment, and Others) – Demand Analysis & Opportunity Outlook 2019-2028

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Extensive insights into the Growth of United States and Puerto Rico IT Managed Services Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

· October 8, 2020: IBM corporation announced that it will focus on accelerating its hybrid cloud growth strategy, that presents itself as a market opportunity worth $1 trillion. The aim of this strategy is to drive digital transformation for its clients and execute spin-off of market-leading managed infrastructure services unit.

United States and Puerto Rico IT Managed Services Market Highlights Over 2019 - 2028

The United States IT managed services market is estimated to garner a revenue of USD 174,853.6 million by 2028, up from USD 71,760 million in 2019 by growing at a CAGR of 11% over the forecast period, i.e., 2020 – 2028. In Puerto Rico, the market is projected to record a CAGR of 7.5% during the same period, reaching a value of USD 973.3 million in 2028 from USD 510 million in 2019. The growth of the market can be attributed to the increasing need for evolved IT infrastructure in several industry verticals, and the growing emphasis of small and medium enterprises on core business and reduced risk. Furthermore, managed service providers (MSPs) offer higher financial benefits to organizations by providing sophisticated technologies as lower subscriptions rate, which in turn is an additional factor expected to accelerate the market growth.

United States IT managed services market Graph

Large enterprises do not have any financial constraints. However, small and medium enterprises can benefit to a large degree from IT managed services as it reduces the need to maintain an IT infrastructure within the company and hire tech-savvy professionals. On the basis of the chosen subscription plan, the MSP will maintain and update any system failures accordingly in a cost-effective manner.

The United States is the home to some of the world’s most advanced software and information technology (IT) industry around the world. The robust adoption of sophisticated IT technologies in a wide range of sectors, including telecommunications, media and entertainment, healthcare, and financial services, is assessed to boost the demand for managed services in the country. In addition, the user base of digital banking services has also witnessed a notable increase in the last three years. The total percentage of users of digital banking in the United States increased up to 64% in 2020 from around 61% in 2018.CLICK TO DOWNLOAD SAMPLE REPORT

The market is anticipated to benefit from the increasing number of collaborations and acquisitions for improving the service portfolios of companies and the rising adoption of IoT solutions, connecting hardware devices, communication services, embedded software and managed services. Additionally, other than IoT, the growing implementation of managed services for cloud, DevOps and Big Data, are also expected to hold lucrative opportunities for managed services providers in the near future.

However, the COVID-19 pandemic impacted the revenues of several market players. Organizations decided to strengthen their businesses by deploying innovative strategies and collaborations. Although, there was almost negligible effect on the pricing of IT managed services, such as managed network services, network SD-WAN and managed network provisioning, in the U.S. and Puerto Rico.

United States and Puerto Rico IT Managed Services Market Regional Synopsis

The IT managed services market in the United States is segmented into six regions, West U.S., Northeast U.S., Southeast U.S., Southwest U.S., and Midwest U.S. Out of these, the market in the West U.S., which comprises of four major states, including California, Alaska, Washington and Oregon, is projected to hold the largest market share of 26.90% by 2028 by growing with the highest CAGR of 11.7% during the forecast period. The market in the region is further expected to reach USD 47035.6 Million by the end of 2028, up from USD 18298.8 Million in 2019.Factors projected to propel the market growth in this region are increasing technological advancements in artificial intelligence and IoT technologies, and the rising need for cost-effective IT budgets for the enforcement of IT managed services across organizations. Apart from these, the growth of the market in this region is also dependent on the growing adoption of innovative technologies in the BFSI, transportation, government & defense, retail & e-commerce, and other sectors. Moreover, out of all the states in the west United States, California is projected to witness the highest CAGR of 12.1% during the forecast period owing to the strong presence of major industry players who thrive to deliver reliable and positive digital practices.

Growth Drivers and Challenges Impacting the Growth of the United States and Puerto Rico IT Managed Services Market

Growth Drivers

  • Rising and Evolving Need for IT Infrastructure among Different Industries
  • Emphasis on Core Business and Reduced Risk
  • IT Managed Services Able to Offer Financial Benefits

Challenges

  • Increasing Number of Security Breaches and Cyber Threats
  • Absence of Skilled IT and Cybersecurity Professionals

United States and Puerto Rico IT Managed Services Market Segmentation Synopsis

The United States and Puerto Rico IT managed services market is segmented on the basis of enterprise size into small & medium enterprises and large enterprises. In the United States, the segment for large sized enterprises is evaluated to occupy a large revenue of USD 1,08,552.3 million by the end of 2028, up from USD 46,569.3 million in 2019. In 2021, the value is calculated to be USD 55,008.3 million. The expansion of this market segment can be ascribed to the presence of strong architecture and large revenue pool of large enterprises to implement managed services. Moreover, the segment for small & medium sized enterprises (SMEs) in the United States is estimated to observe the highest CAGR of 11.9% during the forecast period owing to the increasing establishment of IT startups, escalating adoption of complex automation systems and growing usage of cloud-based technologies in SMEs. In 2018, there were more than 30 small businesses operating in the United States. On the other hand, the large enterprises segment in Puerto Rico is projected to gain the highest market revenue of USD 578.2 Million by the end of 2028.

Additionally, based on industry vertical, the segment for BFSI in the United States is expected to occupy the largest market share of USD 7.053.8 million by the end of 2021 and observe notable growth of 13.4% over the forecast period, owing to the high investments of banks and other institutions for the deployment of IT managed services.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the United States and Puerto Rico IT managed services market that are included in our report are IBM Corporation, Infosys Limited, Cisco System Inc., DXC Technology Company, Accenture PLC, Hewlett Packard Enterprise Development LP, AT&T Inc., Verizon Communications Inc, Dell Technologies Inc., Tata Consultancy Services Limited, Rackspace Technology, iNubo IT, CP CORP, and others.

Key Reasons to Buy Our Report

  • The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
  • It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
  • The report includes detailed company profiles of the major players dominating the market.
  • We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
  • We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

FREQUENTLY ASKED QUESTIONS

  1. Introduction
    1. Market Definition
    2. Market Segmentation
      1. 1.3     Product Overview
  2. Assumptions & Acronyms
  3. Research Methodology
    1. Research Process
    2. Primary Research
      1. Managed Service Companies
      2. End-users
    3. Secondary Research
    4. Market Size Estimation
  4. Primary Interview Analysis
  5. Analyst Review
  6. Executive Summary - IT Managed Service Market
  7. Market Dynamics
    1. Growth Drivers
    2. Market Restraints
  8. Major Trends for the Market Growth
  9. Key Market Opportunities
    1. Service Type Based
    2. Deployment Based
    3. Geography Based
  10. Analysis on Cloud Spending, By End-user Industry
  11. Pricing Analysis
  12. Impact of COVID-19 on the IT Managed Services Market
    1. Impact on the overall market
    2. Impact on revenue of the existing players
    3. Impact on the new entrants in the market
    4. Impact on the applications
    5. Impact on the overall price trend  
  13. Feature Analysis
  14. Use Case Analysis
  15. United States & Puerto Rico IT Managed Service Market Outlook
    1. By Value (USD Million)
  16. United States & Puerto Rico IT Managed Service Market Segmentation Analysis 2019-2028
    1. By Enterprise Size
      1. Small & Medium Enterprises, 2019-2028F (USD Million)
      2. Large Enterprises, 2019-2028F (USD Million)
  17. IT Managed Service Market Segmentation for Small & Medium Enterprises
    1. By Service Type
      1. Managed Network Services, 2019-2028F (USD Million)
        1. Network Monitoring, 2019-2028F (USD Million)
        2. Managed Network Provisioning, 2019-2028F (USD Million)
        3. Network SD-WAN, 2019-2028F (USD Million)
        4. Others, 2019-2028F (USD Million)
      2. Managed Data Centers & IT Infrastructure Services, 2019-2028F (USD Million)
        1. Server Management, 2019-2028F (USD Million)
        2. Storage Management, 2019-2028F (USD Million)
        3. Desktop Management, 2019-2028F (USD Million)
        4. IMAC Services, 2019-2028F (USD Million)
        5. Managed Print Services, 2019-2028F (USD Million)
        6. IT Infrastructure Services, 2019-2028F (USD Million)
          1. Optical Cabling Services, 2019-2028F (USD Million)
          2. Cable Tray Installation, 2019-2028F (USD Million)
          3. Building Design & New Construction Projects, 2019-2028F (USD Million)
          4. Structure Cabling, 2019-2028F (USD Million)
          5. Others, 2019-2028F (USD Million)
    2. By Deployment
      1. Hosted, 2019-2028F (USD Million)
      2. On-premise, 2019-2028F (USD Million)
    3. By Industry Vertical
      1. BFSI, 2019-2028F (USD Million)
      2. Telecommunication & IT, 2019-2028F (USD Million)
      3. Healthcare, 2019-2028F (USD Million)
      4. Manufacturing, 2019-2028F (USD Million)
      5. Energy & Utilities, 2019-2028F (USD Million)
      6. Consumer Goods & Retail, 2019-2028F (USD Million)
      7. Education, 2019-2028F (USD Million)
      8. Media & Entertainment, 2019-2028F (USD Million)
      9. Others, 2019-2028F (USD Million)
  18. IT Managed Service Market Segmentation for Large Enterprises
    1. By Service Type
      1. Managed Network Services, 2019-2028F (USD Million)
        1. Network Monitoring, 2019-2028F (USD Million)
        2. Managed Network Provisioning, 2019-2028F (USD Million)
        3. Network SD-WAN, 2019-2028F (USD Million)
        4. Others, 2019-2028F (USD Million)
      2. Managed Data Centers & IT Infrastructure Services, 2019-2028F (USD Million)
        1. Server Management, 2019-2028F (USD Million)
        2. Storage Management, 2019-2028F (USD Million)
        3. Desktop Management, 2019-2028F (USD Million)
        4. IMAC Services, 2019-2028F (USD Million)
        5. Managed Print Services, 2019-2028F (USD Million)
        6. IT Infrastructure Services, 2019-2028F (USD Million)
          1. Optical Cabling Services, 2019-2028F (USD Million)
          2. Cable Tray Installation, 2019-2028F (USD Million)
          3. Building Design & New Construction Projects, 2019-2028F (USD Million)
          4. Structure Cabling, 2019-2028F (USD Million)
          5. Others, 2019-2028F (USD Million)
    2. By Deployment
      1. Hosted, 2019-2028F (USD Million)
      2. On-premise, 2019-2028F (USD Million)
    3. By Industry Vertical
      1. BFSI, 2019-2028F (USD Million)
      2. Telecommunication & IT, 2019-2028F (USD Million)
      3. Healthcare, 2019-2028F (USD Million)
      4. Manufacturing, 2019-2028F (USD Million)
      5. Energy & Utilities, 2019-2028F (USD Million)
      6. Consumer Goods & Retail, 2019-2028F (USD Million)
      7. Education, 2019-2028F (USD Million)
      8. Media & Entertainment, 2019-2028F (USD Million)
      9. Others, 2019-2028F (USD Million)
  19. Market Analysis on the Regions in the US
    1. Northeast US, 2019-2028F (USD Million)
    2. Southeast US, 2019-2028F (USD Million)
    3. Midwest US, 2019-2028F (USD Million)
    4. Southwest US, 2019-2028F (USD Million)
    5. West US, 2019-2028F (USD Million)
  20. Northeast United States IT Managed Service Market Outlook
    1. By Value (USD Million)
  21. Northeast United States IT Managed Service Market Segmentation Analysis 2019-2028
    1. By Enterprise Size
      1. Small & Medium Enterprises, 2019-2028F (USD Million)
      2. Large Enterprises, 2019-2028F (USD Million)
  22. IT Managed Service Market Segmentation for Small & Medium Enterprises
    1. By Service Type
      1. Managed Network Services, 2019-2028F (USD Million)
        1. Network Monitoring, 2019-2028F (USD Million)
        2. Managed Network Provisioning, 2019-2028F (USD Million)
        3. Network SD-WAN, 2019-2028F (USD Million)
        4. Others, 2019-2028F (USD Million)
      2. Managed Data Centers & IT Infrastructure Services, 2019-2028F (USD Million)
        1. Server Management, 2019-2028F (USD Million)
        2. Storage Management, 2019-2028F (USD Million)
        3. Desktop Management, 2019-2028F (USD Million)
        4. IMAC Services, 2019-2028F (USD Million)
        5. Managed Print Services, 2019-2028F (USD Million)
        6. IT Infrastructure Services, 2019-2028F (USD Million)
          1. Optical Cabling Services, 2019-2028F (USD Million)
          2. Cable Tray Installation, 2019-2028F (USD Million)
          3. Building Design & New Construction Projects, 2019-2028F (USD Million)
          4. Structure Cabling, 2019-2028F (USD Million)
          5. Others, 2019-2028F (USD Million)
    2. By Deployment
      1. Hosted, 2019-2028F (USD Million)
      2. On-premise, 2019-2028F (USD Million)
    3. By Industry Vertical
      1. BFSI, 2019-2028F (USD Million)
      2. Telecommunication & IT, 2019-2028F (USD Million)
      3. Healthcare, 2019-2028F (USD Million)
      4. Manufacturing, 2019-2028F (USD Million)
      5. Energy & Utilities, 2019-2028F (USD Million)
      6. Consumer Goods & Retail, 2019-2028F (USD Million)
      7. Education, 2019-2028F (USD Million)
      8. Media & Entertainment, 2019-2028F (USD Million)
      9. Others, 2019-2028F (USD Million)
  23. IT Managed Service Market Segmentation for Large Enterprises
    1. By Service Type
      1. Managed Network Services, 2019-2028F (USD Million)
        1. Network Monitoring, 2019-2028F (USD Million)
        2. Managed Network Provisioning, 2019-2028F (USD Million)
        3. Network SD-WAN, 2019-2028F (USD Million)
        4. Others, 2019-2028F (USD Million)
      2. Managed Data Centers & IT Infrastructure Services, 2019-2028F (USD Million)
        1. Server Management, 2019-2028F (USD Million)
        2. Storage Management, 2019-2028F (USD Million)
        3. Desktop Management, 2019-2028F (USD Million)
        4. IMAC Services, 2019-2028F (USD Million)
        5. Managed Print Services, 2019-2028F (USD Million)
        6. IT Infrastructure Services, 2019-2028F (USD Million)
          1. Optical Cabling Services, 2019-2028F (USD Million)
          2. Cable Tray Installation, 2019-2028F (USD Million)
          3. Building Design & New Construction Projects, 2019-2028F (USD Million)
          4. Structure Cabling, 2019-2028F (USD Million)
          5. Others, 2019-2028F (USD Million)
    2. By Deployment
      1. Hosted, 2019-2028F (USD Million)
      2. On-premise, 2019-2028F (USD Million)
    3. By Industry Vertical
      1. BFSI, 2019-2028F (USD Million)
      2. Telecommunication & IT, 2019-2028F (USD Million)
      3. Healthcare, 2019-2028F (USD Million)
      4. Manufacturing, 2019-2028F (USD Million)
      5. Energy & Utilities, 2019-2028F (USD Million)
      6. Consumer Goods & Retail, 2019-2028F (USD Million)
      7. Education, 2019-2028F (USD Million)
      8. Media & Entertainment, 2019-2028F (USD Million)
      9. Others, 2019-2028F (USD Million)
  24. Puerto Rico IT Managed Service Market Outlook
    1. By Value (USD Million)
  25. Puerto Rico IT Managed Service Market Segmentation Analysis 2019-2028
    1. By Enterprise Size
      1. Small & Medium Enterprises, 2019-2028F (USD Million)
      2. Large Enterprises, 2019-2028F (USD Million)
  26. IT Managed Service Market Segmentation for Small & Medium Enterprises
    1. By Service Type
      1. Managed Network Services, 2019-2028F (USD Million)
        1. Network Monitoring, 2019-2028F (USD Million)
        2. Managed Network Provisioning, 2019-2028F (USD Million)
        3. Network SD-WAN, 2019-2028F (USD Million)
        4. Others, 2019-2028F (USD Million)
      2. Managed Data Centers & IT Infrastructure Services, 2019-2028F (USD Million)
        1. Server Management, 2019-2028F (USD Million)
        2. Storage Management, 2019-2028F (USD Million)
        3. Desktop Management, 2019-2028F (USD Million)
        4. IMAC Services, 2019-2028F (USD Million)
        5. Managed Print Services, 2019-2028F (USD Million)
        6. IT Infrastructure Services, 2019-2028F (USD Million)
          1. Optical Cabling Services, 2019-2028F (USD Million)
          2. Cable Tray Installation, 2019-2028F (USD Million)
          3. Building Design & New Construction Projects, 2019-2028F (USD Million)
          4. Structure Cabling, 2019-2028F (USD Million)
          5. Others, 2019-2028F (USD Million)
    2. By Deployment
      1. Hosted, 2019-2028F (USD Million)
      2. On-premise, 2019-2028F (USD Million)
    3. By Industry Vertical
      1. BFSI, 2019-2028F (USD Million)
      2. Telecommunication & IT, 2019-2028F (USD Million)
      3. Healthcare, 2019-2028F (USD Million)
      4. Manufacturing, 2019-2028F (USD Million)
      5. Energy & Utilities, 2019-2028F (USD Million)
      6. Consumer Goods & Retail, 2019-2028F (USD Million)
      7. Education, 2019-2028F (USD Million)
      8. Media & Entertainment, 2019-2028F (USD Million)
      9. Others, 2019-2028F (USD Million)
  27. IT Managed Service Market Segmentation for Large Enterprises
    1. By Service Type
      1. Managed Network Services, 2019-2028F (USD Million)
        1. Network Monitoring, 2019-2028F (USD Million)
        2. Managed Network Provisioning, 2019-2028F (USD Million)
        3. Network SD-WAN, 2019-2028F (USD Million)
        4. Others, 2019-2028F (USD Million)
      2. Managed Data Centers & IT Infrastructure Services, 2019-2028F (USD Million)
        1. Server Management, 2019-2028F (USD Million)
        2. Storage Management, 2019-2028F (USD Million)
        3. Desktop Management, 2019-2028F (USD Million)
        4. IMAC Services, 2019-2028F (USD Million)
        5. Managed Print Services, 2019-2028F (USD Million)
        6. IT Infrastructure Services, 2019-2028F (USD Million)
          1. Optical Cabling Services, 2019-2028F (USD Million)
          2. Cable Tray Installation, 2019-2028F (USD Million)
          3. Building Design & New Construction Projects, 2019-2028F (USD Million)
          4. Structure Cabling, 2019-2028F (USD Million)
          5. Others, 2019-2028F (USD Million)
    2. By Deployment
      1. Hosted, 2019-2028F (USD Million)
      2. On-premise, 2019-2028F (USD Million)
    3. By Industry Vertical
      1. BFSI, 2019-2028F (USD Million)
      2. Telecommunication & IT, 2019-2028F (USD Million)
      3. Healthcare, 2019-2028F (USD Million)
      4. Manufacturing, 2019-2028F (USD Million)
      5. Energy & Utilities, 2019-2028F (USD Million)
      6. Consumer Goods & Retail, 2019-2028F (USD Million)
      7. Education, 2019-2028F (USD Million)
      8. Media & Entertainment, 2019-2028F (USD Million)
      9. Others, 2019-2028F (USD Million)
  28. Competitive Structure
    1. Market share analysis, 2020
    2. Competitive benchmarking
    3. IBM Corporation
      1. Detailed overview
      2. Merges & Acquisitions
      3. Assessment on key product offering
      4. Analysis on growth strategies
      5. Exhaustive analysis on key financial indicators
      6. Recent developments
    4. Infosys Limited
    5. Cisco System Inc.
    6. DXC Technology Company
    7. Accenture PLC
    8. Hewlett Packard Enterprise Development LP
    9. AT&T Inc.
    10. Verizon Communications Inc.
    11. Dell Technologies Inc.
    12. Tata Consultancy Services Limited
    13. Rackspace Technology
    14. iNubo IT
    15. CP CORP

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